Procore Technologies, Inc. $PCOR Shares Sold by Cache Advisors LLC

Cache Advisors LLC reduced its stake in Procore Technologies, Inc. (NYSE:PCOR) by 44.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 26,686 shares of the company’s stock after selling 21,616 shares during the period. Cache Advisors LLC’s holdings in Procore Technologies were worth $1,946,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC raised its holdings in Procore Technologies by 465.2% in the third quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after acquiring an additional 321 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Procore Technologies during the third quarter worth $34,000. Jones Financial Companies Lllp boosted its holdings in shares of Procore Technologies by 70.8% in the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after acquiring an additional 199 shares in the last quarter. First Horizon Corp purchased a new position in shares of Procore Technologies during the 3rd quarter worth approximately $49,000. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Procore Technologies in the 3rd quarter valued at about $57,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Procore Technologies news, Director Connor Kevin J. O sold 9,615 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $54.48, for a total transaction of $523,825.20. Following the transaction, the director owned 1,012,136 shares in the company, valued at $55,141,169.28. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Howard Fu sold 814 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $72.99, for a total transaction of $59,413.86. Following the transaction, the chief financial officer directly owned 178,237 shares in the company, valued at approximately $13,009,518.63. The trade was a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 333,713 shares of company stock valued at $23,704,857. 21.50% of the stock is owned by corporate insiders.

Procore Technologies Stock Performance

NYSE:PCOR opened at $55.03 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.32 and a quick ratio of 1.33. The firm has a market cap of $8.26 billion, a PE ratio of -82.13 and a beta of 0.89. The firm has a 50 day simple moving average of $62.68 and a 200-day simple moving average of $68.90. Procore Technologies, Inc. has a 1-year low of $46.08 and a 1-year high of $82.32.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $349.11 million for the quarter, compared to analyst estimates of $340.80 million. Procore Technologies had a negative return on equity of 3.96% and a negative net margin of 7.62%.The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 EPS. On average, equities analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PCOR shares. BMO Capital Markets cut their price target on Procore Technologies from $87.00 to $67.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. Wall Street Zen downgraded shares of Procore Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Robert W. Baird increased their price target on shares of Procore Technologies from $88.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Zacks Research downgraded Procore Technologies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Finally, UBS Group reduced their target price on Procore Technologies from $87.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Seventeen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Procore Technologies has an average rating of “Moderate Buy” and a consensus price target of $76.95.

Procore Technologies Profile

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company’s platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.